A year later, Spoiled Child talks sales – WWD

SpoiledChild is ready to talk numbers.

The brand was launched by Oddity, also Il Makiage’s parent company, in February 2022 with 17 refillable haircare and skincare storage units priced between US$45 and US$95. Digestible ingredients have been added since its launch, including E27 Extra Strength Liquid Collagen and L30 Biotin & Multivitamin Hair Gummies.

The popularity of those products helped the company post gross sales of $48 million in its first year, parent company Oddity said, though it declined to provide net figures. According to the company, SpoiledChild has broken even and will be profitable in its second year, while Oddity, which counts strong technology capabilities as a key differentiator, reported gross sales of $380 million in 2022.

“Our mission is to truly disrupt the global beauty and wellness market, which we believe is one of the most attractive markets in the world, through technology and innovation,” Lindsay Drucker Mann, Oddity’s global chief financial officer, told WWD. “We believe it is the most successful dtc brand launch in the history of any category.”

Technical features include SpoiledChild’s online quiz, which is powered by SpoiledBrain, an AI-powered backbone of its product recommendations that took 50,000 hours to develop along with the rest of the site.

At the time of SpoiledChild’s launch, founder Oran Holtzman told WWD that he plans to launch a new brand every 18 months, although details for the next venture are yet to be announced.

Holtzman and his team restarted Il Makiage in 2018 after receiving a $29 million investment from L Catterton, which acquired a 35.8 percent stake in the company in 2017. In 2018, the brand spent $8 million on advertising surrounding its relaunch with an anti-minimalism campaign that included slogans “minimalism is dead” and “sorry, I don’t speak low-maintenance.”

WWD previously reported that Il Makiage worked with Centerview Partners in 2020 to explore transaction options, including a possible sale or IPO. While it confirmed this at the time, it has not made any public comments on a possible IPO since then.

“Our plan is to continue bringing new brands to market by leveraging our technology and user data to target more categories, more products, more consumer pain points, and more needs,” Drucker Mann continued. “We have 40 million users on our platform who give us a lot of information about themselves: their beauty routines, the categories and ingredients they care about, which products they are missing. And we use that information and our in-house technology to serve them with more products, categories and capabilities.”

https://wwd.com/beauty-industry-news/beauty-features/spoiled-child-talks-sales-numbers-1235553751/ A year later, Spoiled Child talks sales – WWD


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